The EU prevents us renationalising the railways or other industries

This is not only not true, but Article 345 of the Lisbon Treaty explicitly forbids the EU from legislating over state ownership (either in favour or against).

This is why state ownership of various industries is common within EU member states, and why several member states have renationalised some industries without any interference from the EU, including the UK!

The UK has renationalised Railtrack, several rail franchises, and several banks without any interference from the EU.